Today, a shocking one in three seniors dies with Alzheimer’s disease or another form of dementia. In fact, the latest survey shows that an estimated 5.3 million Americans of all ages have Alzheimer’s disease (see more facts and figures from the Alzheimer’s Association). Yet despite the fact that it’s such a common illness, only 45% of people with Alzheimer’s disease, and their caregivers, report being told of their diagnosis. That’s why it’s important to stay alert and learn to recognize the early signs and symptoms.

​Some memory loss is considered a normal sign of aging (learn more about that here). But memory loss that’s severe enough to affect daily life could be an early indication of Alzheimer’s. How can we tell what’s normal and what’s not? A little forgetfulness may not be cause for alarm, but if your loved one is asking the same questions repeatedly, forgetting key dates or events, or spacing on recently learned information, it could be time to schedule an appointment with a doctor.​

Other signs to watch out for are confusion, dizziness or trouble following conversations. Is your loved one getting lost more than usual? Have you noticed that they have difficulty judging distance while driving? Does it seem like they've been misplacing things a lot lately? To learn the 10 warning signs of Alzheimer's, see this great fact-sheet about early detection from the Alzheimer’s Association.​For now, Alzheimer’s disease has no cure. However, scientists are making breakthrough advances in developing treatment for the illness (read more about that here). So why is it important to detect Alzheimer’s in its early stages? Knowing your diagnosis sooner will help provide you with a better understanding of the disease and of what to expect. Those who receive an early diagnosis will have better access to medical treatment and support services. Most importantly, detecting the disease early on will help you and your family prepare, to ensure you will have the best medical, financial and legal resources heading into the future.

Americans are living much longer lives than our grandparents did. Our own longevity is increasing, while the longevity of Social Security is in question. Outliving our money is a real fear that many of us face. Shockingly, over half of all American households nearing retirement age have absolutely no retirement savings. Social Security provides most of the retirement income for about half of all seniors.

More and more Americans do not have access to a retirement savings plan at their workplace. Research has shown that people are 15 times more likely to save for retirement if they’re able to do so out of their regular paycheck as employees. But don’t be dismayed if your employer doesn’t provide a 401(k) plan. There are still plenty of ways to save for retirement.

1. Speak with a financial advisor about funding an IRA or a Roth IRA. An IRA, or an Individual Retirement Account, is a type of savings account geared toward retirement that offers a few tax advantages. With traditional IRAs, you can defer paying income tax on up to $5,500 that you contribute. Investors over age 50 can defer paying income tax on as much as $6,500. You can defer to pay income tax while you invest your money in your IRA, but income tax will be due once you withdraw the money from the account. A Roth IRA is slightly different, in that you do not get a tax deduction on your contributions, but you don’t pay any tax on the earnings and the withdrawals are tax-free when you’re ready to retire.

2. Save your tax refunds each year. Put them aside in an account promised for retirement. Using IRS Form 8888, you can directly deposit your tax refund into a savings account, an investment account or an IRA.

3. Set up a direct deposit. You can allocate a certain percentage of each of your paychecks to go into your retirement account. That way, you can save passively and ensure your money is set aside in a safe place. How much should you set aside? Most financial experts are now recommending saving 15% of your income for retirement.

4. Set a goal. For whatever reason, goals help us accomplish things easier. Figure out how much you need to save, set that goal and reach for it. If you’re curious about how much you’ll need for your retirement years, consider using a retirement calculator.

5. If you’re able to, consider delaying your Social Security benefit. The older you are when you file for Social Security benefits, the greater your annual payment (up to age 70).

Once you have your nest egg, the next important step is to protect it. Over half of America’s seniors will face the need for long-term care during their retirement. Long-term care facilities can be a crippling drain on a family’s finances. In fact, the national average cost for a private room in a nursing home is over $80,000 per year. Don’t lose your life savings to a nursing home. Protect yourself by investing in Long-Term Care Planning. For more information about how to protect your assets from the costs of long-term care, visit our Medicaid Planning page or contact us for a free consultation.